Sportradar Group AG, a global provider of sports betting and entertainment products and services, on Tuesday said the price of its initial public offering of 19 million Class A ordinary shares shall be $27.00 per share.
In addition, Carsten Koerl, Sportradar’s founder and CEO, granted the underwriters a 30-day option to purchase up to an additional 2.85 million Class A ordinary shares at the initial public offering price.
The shares are expected to begin trading on the Nasdaq Global Select Market on Tuesday, under the ticker symbol “SRAD.”
The company said the offering is expected to close on Thursday, subject to the satisfaction of customary closing conditions.
J.P. Morgan, Morgan Stanley, Citigroup and UBS Investment Bank are acting as lead book-running managers, with BofA Securities, Deutsche Bank Securities, Jefferies and Canaccord Genuity acting as joint book-running managers.
Needham & Company, Benchmark Company, Craig-Hallum, Siebert Williams Shank and Telsey Advisory Group are acting as co-managers.
According to a statement released Tuesday by the company’s legal department, the offering is being made only by means of a prospectus. Copies of the prospectus related to the offering may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions.
A registration statement on Form F-1 relating to these securities was declared effective by the US Securities and Exchange Commission on Monday.
Established in 2001, Sportradar says it is the No. 1 provider of business-to-business solutions to the global sports betting industry based on revenue. The company has more than 2,300 full-time employees across 19 countries. It is partnered with more than 1,600 customers in some 120 countries. It is an official partner of the NBA, NHL, MLB, NASCAR and FIFA, covering more than 750,000 events annually across 83 sports.